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🚨 NDVA surged 43%. This AI Chipmaker Could Be Next See Analysis

JD.com becomes first online platform to accept China's digital currency

Currencies
Published Dec 05, 2020 04:05AM ET Updated Dec 05, 2020 04:15AM ET
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© Reuters. JD.com sign is seen at the World Internet Conference (WIC) in Wuzhen
 
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SHANGHAI (Reuters) - Chinese e-commerce company JD (NASDAQ:JD).com Inc said on Saturday it has become the country's first virtual platform to accept Beijing's homegrown digital currency.

JD Digits, the company's fintech arm, will accept digital yuan as payment for some products on its online mall, as part of an experimental giveaway of digital yuan to citizens of Suzhou, near Shanghai, according to a post on the company's official WeChat account.

China's digital yuan is one of the world's most advanced "central bank digital currency" initiatives, as authorities globally respond to threats from private currencies such as bitcoin and Facebook (NASDAQ:FB)'s Libra.

Under the Suzhou programme, the municipal government and the People's Bank of China (PBOC) will issue 200 digital yuan "red envelopes" to 100,000 consumers selected through a lottery.

Suzhou's scheme is the second such digital lottery, after the PBOC issued 10 million yuan worth of digital currency to 50,000 randomly selected consumers in the southern city of Shenzhen.

PBOC Governor Yi Gang said last month that more than 2 billion yuan had been spent using China's digital currency so far in 4 million separate transactions.

JD.com becomes first online platform to accept China's digital currency
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Comments (5)
Eric Miner
Eric Miner Dec 06, 2020 3:24AM ET
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Ten steps ahead of the US at all times at this point. Shout out to China 🇨🇳 for rapidly adopting technology and integrating it into Chinese society. 👍
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Alexandro Fernandez
Alexandro Fernandez Dec 06, 2020 1:33AM ET
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No one cares
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David David
David9 Dec 06, 2020 1:33AM ET
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Please give proof that no one cares...
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Mr KP
Mr KP Dec 05, 2020 7:19PM ET
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ohh I thought they can only make Virus and cheap plastic grabages ,did they stole it from someone ?
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David David
David9 Dec 05, 2020 6:41AM ET
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I told you guys ... China's digital currency will become the world's currency sooner than we think...
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Usman Ibrahim
Usman Ibrahim Dec 05, 2020 5:25AM ET
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our supreme loosers (US), will soon say China stole it from them
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